Latest articles by Roger A. Young, CFP®
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Stay on Top of RMD Rule Changes for 2020
required minimum distributions (RMDs) Between the SECURE Act and the CARES Act, the landscape has changed for RMDs this year. You don’t need to take one, for instance. And if you already have, you can probably undo it.
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SECURE Act: What to Do Now to Help Limit Heirs' Taxes Later
retirement The new retirement law significantly impacts beneficiaries of retirement accounts and trusts. To limit the tax ramifications, consider your options.
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Should I Accept a Lump-Sum Pension Offer from My Old Employer?
Making Your Money Last Companies continue to offer lump-sum pension payouts to former employees. Deciding whether to accept this offer depends on your goals, risk tolerance and financial resources.
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3 Reasons to Consider Making Changes During Medicare Open Enrollment
insurance Between Oct. 15 and Dec. 7, Medicare participants can make changes to their plan(s). Here are a few reasons you may want to take advantage of this open enrollment period.
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How You — and Your Kids — Can Make Smart Student Loan Decisions
Paying for College The commitments you make now have consequences that could last for decades. Being well-informed about student debt and repayment can make a world of difference.
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Which Bucket Should Retirees Tap First, for Their Heirs' Sake?
retirement Does it make more sense to pull money out of your Roth IRA or your brokerage account for your income? Consider the full picture when deciding whether to hold onto your taxable investments for the potential future step-up in basis.
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How Can I Estimate the Income I'll Need in Retirement?
retirement It's an important question, and the answer starts with a simple rule of thumb. With a little personalization, this income replacement metric can be a useful tool.
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How Worried Should I Be About the 'Tax Torpedo'?
social security Navigating taxes in retirement can be tricky. Here's what to look out for, especially when it comes to the tax hit you could take on your Social Security benefits.
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Age Targets: How Much Should You Have Saved for Retirement By Now?
retirement Retirement savings benchmarks can be helpful tools to prompt action ... IF they're realistic. See if your savings are at least in the right ballpark.
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Be Tax Smart About Leaving Assets to Your Heirs
taxes The way you withdraw money in retirement can affect the next generation's tax burden. Sometimes it’s best to go against conventional wisdom when it comes to when to tap taxable, tax-deferred and tax-free retirement savings.
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Getting the Most Out of Your Health Savings Account
insurance Congratulations, you signed up for an HSA-eligible health plan. From how much to contribute to considerations for investing the money, here's how to use it to your advantage to save on your tax bills.
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Paying Taxes Wisely: A Fresh Look at Tax-Efficient Withdrawal Strategies
Making Your Money Last Sometimes it pays to go against conventional wisdom. Here are two ways to possibly reduce taxes in retirement while extending the life of your nest egg by being smart about which accounts you tap first.
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High-Deductible Health Insurance Plan vs. Traditional: Which to Pick
insurance If you are offered a high-deductible health insurance plan with a health savings account, it's important to understand both the insurance itself and the potential financial benefits of an HSA.
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5 Key Financial Aid Considerations When Saving for College
college Get real about what you might need to pay for your child's education.
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Should I Do a Roth Conversion?
IRAs This strategy has pros and cons. Here's why people early in retirement should give it a close look.
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3 People Who Benefit from a Roth (and 2 Who Don't)
Roth IRAs Who should go with a Roth and who should go with a traditional IRA or 401(k)? If you don't want to pay more in taxes than necessary, choose wisely.
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3 Surprising Insights from a Former Financial Adviser
Financial Planning Knowing a little about what goes on behind the scenes can help investors get the most out of the relationship they have with their financial professional.
Financial Planning
